seeks $2bn valuation

The brand new marketplace may have only launched in the United States a few weeks ago but it is already looking out for further investment that values the firm at $2bn.

The founder of Jet Marc Lore explains the concept in this video:

Sadly Jet is currently just US bound and when you access the site they say: “Jet is a membership savings club based in the United States. If you want access to Jet savings you will need a US based zip code.”

But how does it work? You pay a $49 annual membership and then you can plug in to the deals. The more you buy, the better the deals, it seems.

This video (which is annoying at best) will introduce you to the buyer proposition.

What do you reckon to this idea? It would be useful to understand the relationship they have with retailers and also how small sellers might be able to plug in. Does anyone have any inside knowledge there?